most of the export<\/a> was machinery and mechanical appliances, electrical equipment and wood products, followed by food, vegetables and base metals products. The main export countries are Lithuania (17% of the total trade), Estonia (10%), Germany (9%), Russia (7%) and Poland (7%).<\/p>\nThe main tax advantage of the Latvian company for the trading purposes includes deferred corporate income tax that allows to reinvest the profits made thus improving cash flow. Also when importing the goods from the third countries, company may use special regime allowing self-accounting input VAT on importation, thus saving a cash flow.<\/p>\n
Non-tax advantages include developed infrastructure and transportation networks (by sea, land and air), specialized industrial zones and facilities for handling and storing goods and of course already mentioned geographic place.<\/p>\n
A couple of examples:<\/p>\n
Trading company Latvia selling to the East<\/h2>\n
As mentioned above, the most considerable export position is electrical equipment and machinery. While considerable\u00a0 consists of the contract manufacturers which produces equipment and its parts and sells to the related companies, many Latvian trading companies are buying equipment (e.g. medical, manufacturing) in the EU and selling them to the Eastern countries, e.g. Russia, Belarus, Middle Asia etc. As the part of the EU the Latvian companies are\u00a0 highly reputable thus allowing to successfully compete in the Eastern market.<\/p>\n
Selling to the West<\/h2>\n
For importing from the Eastern countries trading company in Latvia is a good choice since it allows to postpone the input VAT payable on importation. Usually, the Latvian trading company buys raw materials (oil, precious metals or minerals) which are then resold to the EU countries. Since the resale is made with 0% VAT, the input VAT on importation is self-accounted only.<\/p>\n
The other types of trading companies are procurement company and online retailer companies which deserves a broader description that will be added later.<\/p>\n
Description of the Latvia company formation.<\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Trading company in Latvia Latvia is situated on the shores of the Baltic Sea and in the middle of the Baltic countries, thus making it an excellent and unique place of international trade. International trade using Latvian companies are consistently increasing year by year since Latvia\u2019s accession to the EU in 2004. In 2020 most […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-11802","page","type-page","status-publish","hentry"],"yoast_head":"\n
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